Related

Article

Juventus profits drop

28 February 2014 21:43

Juventus have announced a €6.5million drop in profits for the first half of the 2013-14 financial year.

The Serie A leaders' profits fell from €11.3m to €4.8m compared to the same point a year earlier, with the club blaming the drop, in part, on an increase in player wages.

In addition, Juve's net debt has climbed almost €30m from €160.3m to €188m.

A statement published on the club's website read: "The first half of the 2013-14 financial year closed with a profit of €4.8m, posting a negative change of €6.5m compared to the profit of €11.3m registered in the same period a year earlier.

"This performance substantially derived from the increase in players’ wages and technical staff costs of €11.6m, a slight increase in revenues of €5.8m (also negatively influenced by one less home match in 2013-14 half year), as well as other net negative changes of €700,000.

"These net negative changes mainly included operating costs (€600,000), net financial expenses (€800,000), amortisation of players' registration rights (€700,000) and income taxes (€300,000), partly offset by lower provisions and write-downs (€1.7m).

"As of December 31 2013 Shareholders' equity totalled €53.5m, an increase compared to the balance of €48.6m at June 30 2013 due to the profit for the half year (+€4.8m) and changes in the cash flow hedge reserve (+€100,000).

"Net financial debt at December 31 2013 amounted to €188m (€160.3m at June 30 2013).

"The net decrease of €27.7m was driven by Transfer Campaign net payments (-€25.7m), advances paid to the City of Turin and various suppliers in relation to the Continassa Project (-€4.6m), other investments (-€4.5m) and financial flows (-€3.7m).

"These negative cash flows were partially offset by positive cash flows from operations (+€10.6m) and other net changes (+€200,000)."

Sponsored links

Friday 30 January

Thursday 29 January

22:15
21:41
21:23
21:02
20:50
20:47
19:42
19:28
19:27
19:08
18:17
18:14
18:05
18:02
17:41
17:26
17:14
16:46
16:26
16:16
16:12
15:57
15:52
15:48
15:37
15:14
14:59
14:44
14:07
13:36
13:31
13:21
13:00
12:34
12:16
12:13
12:01
11:19
10:19
09:58
09:43
09:40
05:48
04:32
04:00
03:41
03:11
02:24
02:24
01:49
00:24

Wednesday 28 January

23:58
23:48
23:39
23:07
22:58
22:49
21:43
21:25
21:00
20:59
20:58
20:33
18:46
18:28
18:20
18:09
17:54
17:51
17:44
17:32
17:05
16:48
16:34
16:16
15:46
15:41
15:36
14:15
14:09
13:41
13:29
13:25
13:07
12:55
12:13
12:10
11:50
11:37
10:42
10:29
10:22
09:49
09:45
09:17
06:43
06:05
05:24
04:36
03:27
01:02

Serie A table

# Team MP D P
1 20 +35 49
2 20 +18 42
3 20 +11 36
4 20 +13 34
5 20 +8 34

Facebook